NuScale Power (NYSE:SMR) Shares Gap Down – Here’s Why

NuScale Power Co. (NYSE:SMR) gapped down prior to trading on Thursday . The stock had previously closed at $25.57, but opened at $24.75. NuScale Power shares last traded at $25.57, with a volume of 2,495,328 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The stock’s fifty day moving average price is $22.99 and its 200-day moving average price is $16.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -29.54 and a beta of 1.47.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The business had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. During the same quarter in the previous year, the company earned ($0.26) EPS.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Toth Financial Advisory Corp increased its position in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after buying an additional 1,800 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of NuScale Power during the 4th quarter worth about $67,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NuScale Power during the 3rd quarter valued at about $44,000. KBC Group NV bought a new position in shares of NuScale Power in the 4th quarter valued at approximately $70,000. Finally, US Bancorp DE acquired a new stake in NuScale Power in the 3rd quarter worth approximately $54,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.